Rental owners and property managers have to make some hard decisions to make when it comes to what is allowable in their rentals and what is not.
Deciding to allow or prohibit pets might be one of those tough decisions.
We thought we would help by outlining the pros and cons of running a pet-friendly rental property.
Properties that allow pets should expect to attract a wider range of applicants. Most pet owners tent to be more responsible because they are assuming responsibility for their animal. Similar to parents, they ten to lease longer. This might be because there are less places to choose from.
Property owners and managers should know the laws of their local state regarding service animals so as to avoid any legal issues.
Cons of Allowing Pets
Normally people don’t have any problem with the pet owner themselves but it is the pet thay can/may cause problems. Some problems to consider:
- Dogs may bite, threaten or annoy other residents.
- Other renters could have serious allergies to pets.
- Pets can cause odors and make messes.
- Some insurance companies may raise premiums for some kinds of pets.
Pros of Having a Pet Friendly Rental
One thing to consider when allowing pets in is that you can offset risk and costs because you have the opportunity to earn more money.
- Charge extra fees or even non-refundable cleaning deposits to pet owners.
- Potentially charge higher rent.
- Increased occupancy rates in some properties that have been difficult to rent.
The first thing rental owner and property managers should check on is their insurance premiums. Some insurers will allow most breeds of dogs, cats, fish and birds with minimal or even no additional charge. You don’t have to allow all kinds of pets. It is also a good idea to require renters to purchase renters insurance to cover their own liability, keep dogs on leashes when they are outside, clean up waste on a timely manner, etc.
It is only natural to consider charging an additional pet fee or deposit for cats and gods.
Ultimately it is up you as the person in charge of your renters.
All my best,
Picket Fence Properties, located in Windsor, CO is Northern Colorado’s Top Notch Property Management company helping owners with their rentals, income/investment properties and vacancies in Northern Colorado. Are you a owner of a home for rent or that you’d like us to manage? We help you have the perfect tenants in NoCO. Are you looking for somewhere to rent in Greeley, Loveland, Fort Collins, Wellington, Eaton, Evans, Windsor, Frederick, Firestone? Look no further, we have all your real estate and rental needs covered. Check out website for vacancies today.